New York Government Clears the Path for 6.4 GW Clean Energy Projects

New York Government Clears the Path for 6.4 GW Clean Energy Projects

The New York state government has announced a slew of initiatives that are set to accelerate capacity additions of renewable energy massively. Notable among these are Community Offshore Wind and Clean Path NY. In a recent announcement that further sets an optimistic tone for New York renewable energy industry, the government has given a green signal to permits and dedicated funds to new clean energy projects in the state for a capacity worth 6.4 GW. This will entail new solar capacity of 1.5 GW.

The government has termed this investment as the “nation’s largest-ever” and is a step forward in New York’s ambition to reach 70% of its energy demand from renewables by decade end. The fresh clean energy capacity will aid with 79% of the energy needs of the state by 2030 while also making its power sector zero-emissions by 2040.

New capacities 

14 new solar projects have been approved by the government in New York. These include the 402 MW Mineral Basin Solar project, the developer for which is Swift Current Energy in Pennsylvania. The firm will be responsible for providing energy to the electric grid.

USA-based AES also stands to gain from the announcement. The firm boasts four solar projects in the pipeline with a total capacity of 560 MW in the state. Additionally, AES also has five wind projects.

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A 145 MW Stonewall solar-plus-storage project by Nexamp has also received the stamp of approval. This project, with 20 MW storage capacity, will come up in Meredith, Delaware County.

The stumbling blocks 

While New York has been ambitious with regards to capacity additions in the state, it has its fair share of challenges, which have led to delays for developers. As per reports, there have been delays with regards to siting and the incentive programmes have also been inconsistent.

As per the state comptroller estimates, the 2022 data indicates that 29% of New York electricity comes from renewable sources. To cement the gap, it will need an additional 20 GW of generation capacity to meet its 2030 goals.In the last two decades, New York has added just 12.9 GW from renewable as well as fossil resources. Just 3.1% of the projects that were conferred contracts since 2015 have come into operation- a rather telling number.